Yeah, been expecting a bounce back as the plunge has been non stop insane. Silverbear that posts here took a nice bite out of the YEN recently. Here is the chart. Price is approaching the April/May 2010 low of 105 area which is also the Fib 50% retracement level of the long run up being the Dec 2007 to Oct 2011 rally from 81 to 132. Might see a bounce from there but Japan has set a new direction with new leadership and is tired of 20 years of deflation and is determined to inflate once again at the YEN's expense. This YEN trade will likely be the trade of the year. And other currencies will react to it as well. Should be a very interesting year or more.
Should give Trout credit as he mentioned shorting YEN some time ago.
